Community Financial provides lockbox services. They estimate that your firm can reduce its average collection mail time by $1\mathrm{.}6$ days and the clearing and processing time by $1\mathrm{.}2$ days by implementing their system. Your firm receives $74$ checks a day with an average value of $$9,750$ each. The current T$-$Bill rate is $\mathrm{.}014$ percent per day. Assume a $365-$day year. What is the net amount of annual income your firm can earn if it installs this service at an annual cost of $$48,000?$

Multiple Choice

$$65,675\mathrm{.}00$

$$58,746\mathrm{.}20$

$$55,232\mathrm{.}22$

$$56,408\mathrm{.}17$

$$62,640\mathrm{.}00$